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marin [14]
3 years ago
15

Tone Loc and 89 of his biggest fans formed an S corporation, 2hit, Inc., as the original ninety shareholders. Tone then transfer

red some of his stock to his grandfather, four of Tone's cousins, five of Tone's children, three of Tone's grandchildren, and 2 close friends. For the S corporation shareholder limit rules, how many shareholders does 2hit, Inc. have?
Business
1 answer:
jolli1 [7]3 years ago
4 0

Answer:

The answer is: 92 shareholders

Explanation:

According to the S corporation shareholder limit rules, family members count only as 1 shareholder. The meaning of family member is very broad, including spouses, uncles, aunts, children, grandparents, grandchildren, first cousins, and even ex-spouses count as members of the same family.

So that means that Tone Loc, his grandfather, his four cousins, his five children and three of his grandchildren, will all together count as just one shareholder.

His two friends are not included in his family.

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Which of the following is a disadvantage of the corporation form of ownership?
Hoochie [10]

Answer:

Option C, Double taxation on profits and individuals

Explanation:

The disadvantages of the corporation form of ownership are as follows -

a) It takes lot of time and hence is time consuming

b) The taxation gets double

c) Also, the formalities/protocols are very tough

Hence, the option C is correct

5 0
3 years ago
Which of the following is a risk involved in both sales and leases?
tamaranim1 [39]

Loss due to damaged property is the risk involved in both sales and leases. Thus, Option A is the correct statement.

<h3>What is the difference between a Sale and a Lease?</h3>

The primary distinction between sale and lease is that a sale occurs when the owner of a property gives up ownership in exchange for money.

A lease, on the other hand, is when the owner of specific property rents out the property for a set period of time.

Thus, Option A. Loss due to damaged property is the correct statement.

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7 0
2 years ago
Explain global business planning system in detail
Orlov [11]

Explanation:

in global business obligation plan more ideas

8 0
3 years ago
On July 1, the inventory of at Barnett Shoes was $60,000. Because of anticipated back-to-school sales, the owner wants to have a
AVprozaik [17]

Answer:

required purchase             83,500

Explanation:

The cost of inventory in july sales and our desired ending invenory is the amount we need. the beginning inventory is a portion of this demand already fullfil, we need to purchase for the difference.

cost of inventory sales for July:

           70,000 x (1 - 45%) =  38,500

desired ending inventory   105,000

beginning inventory        <u>    (60,000)   </u>

  required purchase             83,500

4 0
4 years ago
Which of the following acronyms identifies the Big Five personality dimensions
Burka [1]
The answer will be CANOE. Hope this helps:)
3 0
3 years ago
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